Announcement of reduced costs for St Kitts Citizenship

The St Kitts Citizenship Unit has surprised everyone by reducing the amount required to obtain its citizenship while the other have increased it.

The recent reduction in investment amounts for St Kitts citizenship is a golden opportunity as most citizenship programs around the world are either increasing the costs or eliminating the program, unlike the recent move by the St Kitts Citizenship Unit.

Last year, following the Caribbean-European-American talks, St Kitts raised the amount required to obtain its citizenship and is now reducing it in line with the Memorandum of Understanding signed between Caribbean countries.

News of Lower Costs for St Kitts Citizenship by Investment

In a surprise move, the St Kitts Citizenship by Investment Unit has announced a reduction in the investment amount required to obtain citizenship after a year of increasing it.

Mr. Michael Martin, CEO of the St Kitts Citizenship Unit, shared the news regarding the change in investment and post-approval amounts and asked agents to keep everyone informed of important updates.

One update is to reduce the amount required to obtain St Kitts Citizenship by Investment in the Sustainable Island State (SISC) to match the minimum costs required by other Caribbean citizenship programs, which have decided to standardize the amounts in early July 2024.

For St Kitts Citizenship by Investment via the Sustainable Island State option, the non-refundable amount required was $350,000 for a family of 4, and has now been reduced to $250,000 for a family of 4, at the same cost per person, effective July 2024.

As for real estate investment, the costs of this type have also been reduced, as it used to cost $400,000 to obtain St Kitts Citizenship by purchasing a government-approved property, and now it has become $350,000.

Apart from the investment methods to obtain St Kitts Citizenship, it is now possible to add parents and grandparents who are over 55 years old, instead of 65 years old in the past.

As for other notable changes, the contribution option for each additional person over the age of 18 in the contribution option now requires a payment of $50,000 instead of $75,000, and $25,000 instead of $50,000 for each person under the age of 18. The real estate investment requirements, the private housing investment requirements, and the private benefit contribution requirements remain the same.

1. Sustainable Island State Contribution Option (SISC):

✓ Single applicant or family of 4: $250,000 (previously $350,000).

✓ Additional dependents under 18: $25,000 each.

✓ Additional dependents over 18: $50,000 each.

2. Investment in St. Kitts Real Estate

✓ $400,000 with the property resold after 7 years.

3. Investment in Private Housing

✓ $400,000 Investment in a residential unit or share thereof with the possibility of resale after 7 years.

✓ $800,000 in a private residence for an entire family with the possibility of resale after 7 years.

4. Investment in Public Benefit

✓ $250,000.

St Kitts Citizenship Post-Approval Fees

✓ Main applicant: $25,000 (Real Estate Investment Option)

✓ Applicant’s spouse: $15,000 (Real Estate Investment and Public Benefit Option)

✓ Dependents under 18: $10,000 (Real Estate Investment and Public Benefit Option)

✓ Dependents over 18: $15,000 (Real Estate Investment and Public Benefit Option)

Due Diligence Fee

✓ Applicant: $10,000.

✓ Spouse and all dependents over 16: $7,500.

Processing Fee

✓ $250 per applicant.

Certificate of Registration Fee

✓ $50 per applicant.

St Kitts Citizenship Benefits after investment costs reduced

This move is expected to have a positive impact on St Kitts and investors applying for St Kitts citizenship, as it will attract more foreign investment, boost real estate development and fund public benefit projects.

The importance of this step for applicants is that the updated SISC option will be a suitable option for families in particular due to the simplification and reduction of the amount for a family of up to 4 members and ensuring that applicants receive fair and equitable treatment from all countries offering second citizenship programs.

The above were the advantages of St. Kitts citizenship after the reduction of the amounts, but in general, St. Kitts citizenship is an ideal citizenship option for all individuals due to the strength of its passport, the attractiveness of its tax system, the fact that it allows the family to apply with the applicant and other points.

For more benefits and details about the St Kitts citizenship program, please contact us on the contact channels and one of our experts at Global Citizen Consultants will provide you with a free consultation.